Euronav, Belgian shipping company announced its plans to to buy 15 large crude carrier vessels from the biggest shipping company, Maersk for the amount of $980 million.
On Sunday, the Belgian shipping company, said about their plans to raise $350 million in a capital increase to pay for the crude oil tankers.
The spokesperson of the shipping company Euronav, revealed that $235 million of the acquisition bill are going to be paid in mezzanine financing and $500 million are going to be paid with a debt facility.
Moreover, the spokesperson announced that Euronav will issue shares to raise $50 million around 10th of January. In addition, shareholders of Euronav will be requested to approve a further $300 million issued shares.
The Euronav's spokesperson revealed the financial institutions that would subscribe to the capital increases: Glendon Capital Management, BHR Capital, Solus Alternative Asset Management, GoldenTree Asset Management and York Capital Managemenet.